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Is United States Steel (X) Outperforming Other Basic Materials Stocks This Year?

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Investors focused on the Basic Materials space have likely heard of United States Steel (X - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

United States Steel is a member of the Basic Materials sector. This group includes 240 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. X is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for X's full-year earnings has moved 328.98% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, X has returned 44.13% so far this year. At the same time, Basic Materials stocks have gained an average of 11.50%. This means that United States Steel is performing better than its sector in terms of year-to-date returns.

Looking more specifically, X belongs to the Steel - Producers industry, a group that includes 24 individual stocks and currently sits at #23 in the Zacks Industry Rank. This group has gained an average of 20.14% so far this year, so X is performing better in this area.

Investors in the Basic Materials sector will want to keep a close eye on X as it attempts to continue its solid performance.

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